<h1>Tax compliance: demonetisation-triggered deposit identification led to greater formalisation and increased tax filings and collections.</h1> Demonetisation aimed to promote tax compliance and the formalisation of the economy by removing cash anonymity; deposits revealed previously untraceable holdings, prompting inquiries and tax assessments/penalties. Post demonetisation indicators include notable increases in income tax returns and new filers, higher advance tax payments, growth in income tax collections, and a significant rise in GST registrations, which are presented as evidence of enhanced formalisation and revenue mobilisation.